Gold price begins the week in positive territory as analysts eye new U.S. election risk, dollar, and Fed speakers
(Kitco News) The yellow metal is beginning the trading week holding above $1,950 an ounce as analysts eye new U.S. election risk, the U.S. dollar and a slate of Federal Reserve speakers. A number of datasets this week could also have an impact on gold prices, especially the U.S. durable goods orders scheduled for Friday.
“Durable goods orders will be preliminary and anything modestly below expectations will likely mean the market will believe that the Fed will do more,” TD Securities head of global strategy Bart Melek told Kitco News on Friday. “One of the primary catalysts of the metals market until we get a little closer to the election is going to be the equity market,” said Kitco Metals global trading director Peter Hug.